ANZ Bank stated that we expect the Reserve Bank of New Zealand to cut interest rates by 50 basis points to 4.25% next week. This will be consistent with the Reserve Bank of New Zealand's information in October, economists' forecasts, and market pricing. Data since the monetary policy assessment in October has been mixed, but it appears that no data is likely to disrupt the plan. After this meeting, decisions will be made based on the data, but our basic expectation is that the Reserve Bank of New Zealand will lower the pace of easing to the standard rate cut of 25 basis points, as the official cash rate (OCR) is closer to neutral, with rates reaching a low of 3.5% in May next year.